Courtesy of Nattering Naybob.
From UK Business Insider: America's "children in the basement" won't be moving out any time soon….
70% of the crosscountry variation in living with parents cannot be explained by labor market conditions or other observable factors we looked at (e.g., marriage patterns and housing affordability)," they said. "Cultural factors—which are harder to quantify—thus seem to play an important role too."
So, maybe living with your parents is just becoming the hot new thing in the world. What initially resulted from largely cyclical forces may be morphing into structural changes. And with so many people getting by under these conditions, perhaps this is just the new normal.
The Nattering One muses… Below, the "new normal" resulting from the "culture" of millennials or Gen Y (smart phones, texting, headphones with Ipods, constant gaming) is amply demonstrated.
